Omani institutions are making great efforts to promote national industrial products, some of which currently reach markets in Europe, the Americas and Asia. These efforts are reinforced by facilitating foreign investment procedures to attract more capital to establish profitable projects and diversify sources of income in addition to oil and gas revenues.
There are many projects that the Ministry of Commerce, Industry and Investment Promotion plans to carry out during the next phase within the framework of Oman Vision 2040. The goal is to enhance the importance of the Omani industrial goods as well as the services provided by Omani institutions and companies through the opening of the new lounge "Invest in Oman".
One such policy seeks to penetrate foreign markets, including African markets, so that Omani products are exported to them within the framework of existing old and new relations and diplomatic missions with those countries. The Sultanate can enhance its economic relations with African countries in several other fields, especially in the agricultural, industrial and mining sectors as well.
In order to get closer to the African markets and their people, whose populations are growing annually, Oman Oil Marketing Company signed an agreement with the Alexandria Petroleum Additives Company (Acpa) recently to establish a centre for the marketing and sale of oils and lubricating products in the African continent. At the same time, it signed a memorandum of cooperation with Misr Petroleum to manufacture and supply Omani products and lubricants for distribution across the continent, which is witnessing major growth in the commercial and industrial sectors.
The success achieved by the Oman Oil Marketing Company led its Chief Executive Officer, Tariq al Junaidi, attests to the high quality and popularity of Omani lubricants. The new partnership provides opportunities for the two companies to develop the existing relations and to enhance their growth and development during next period. Such cooperation will allow the Omani company to increase its market share and consolidate the frameworks and bridges of joint cooperation between them.
There is no doubt that the expansion of the marketing operations of the Omani company in new countries, especially in the African continent, will lead to advancing economic growth in the Sultanate of Oman as well, within the framework of the strategy set by the company to expand its commercial business outside the Omani borders. Today, Omani oil products are marketed and sold in more than 17 countries, especially lubricants in Asia, the Middle East and North Africa, while the Omani company is expanding its services to a number of other African countries.
Omani companies are working to participate in specialised exhibitions such as oil and gas and various industries in order to promote the products and services they provide in the fields of oil, energy and others, and take advantage of new trends, and ascertain the status of future renewable energy projects.
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